Team Fi
Question 1
What is the differences between Occurence and Completeness Test?
Occurrence test, the source always from GL. While completeness test, the source should be other independent record (selected source to GL).
Occurence test, the source extract from document. While completeness test, the source from GL.
Occurence test, the source extract from document to GL. While completeness test, the source from GL to document.
Question 2
What is the difference between PAF and CAF fies?
PAF can be used for current engagements. CAF is only for that current year.
PAF can be used for future engagements. CAF is only for that next year.
PAF can be used for future engagements. CAF is only for that particular year.
Question 3
What we have to do for completeness test sample if the TOD covers 75% or more of the total %?
Need to select sample for the remaining total %.
No further requirement to select separate samples for completeness test.
Question 4
What is the % of overall materiality for 1st, 2nd and 3rd year?
1st 1%, 2nd 2% and 3rd 3%
1st 0.5%, 2nd 1% and 3rd 3%
Question 5
From the table, please determine Planning Materiality for the default risk REVENUE in 2nd year engagement and HIGH Assertion Level Risk.
2.5
2.1
1.6
Question 6
What will you do if the things didn't go as your plan or you didn't do something you'd hoped for?
Forgive yourself
Regret
Question 7
When you're stressing out or mental breakdown, what you will do?
Cope it alone
Build your support network